Paladin Energy (PDN)

Deutsche Bank is encouraged by September quarter results from uranium miner
Paladin Energy
, with sales of $US103 million representing a 75 per cent quarterly increase.

Adjusted net loss after tax of $US10 million was in line with Deutsche Bank estimates, as was the company’s cash balance of $US158 million.

Both of the company’s main projects, Kayelekera and Langer Heinrich mines, are operating at about 90 per cent capacity, though higher sales volumes “were predominantly balanced" by lower achieved prices.

The broker expects Paladin to turn cash-flow positive in the second half of the 2012 financial year, and has increased its earnings per share forecasts by 29.6 per cent to US3¢ per share for the full year.